Faced with a roughly 15% decline in undergraduate enrollment over the past decade and mounting fiscal pressure, colleges are increasingly pursuing mergers, acquisitions and strategic partnerships while public systems move to eliminate low‑enrollment degree programs. Trustees and presidents described consolidation as a pragmatic response to sustain mission and academic quality; state boards in Oklahoma and Nebraska recently voted to cut dozens of programs to close budget gaps. The shift marks a cultural change: mergers once taboo are now considered a tool to stabilize finances, protect Title IV eligibility and avoid sudden closures. Regulatory and accreditor reviews will shape whether proposed consolidations succeed. Clarification: institutional mergers can range from full acquisitions to strategic partnerships that align back‑office functions, academic offerings and branding.